EQT closes above its opening price after recovering from early selling pressure


EQT Corporation (EQT) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
EQT closes above its opening price after recovering from early selling pressure
EQT closes higher for the 4th day in a row
EQT ends the day on a bullish note closing near the high of the day
EQT pushes through previous session high
EQT rises to highest close since January 31st
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, EQT ended Thursday at 53.94 gaining $0.39 (0.73%). Today's closing price of 53.94 marks the highest close since January 31st. Trading up to $0.84 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 53.79, the stock confirms its breakout through the previous session's high having traded $0.38 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for EQT
Volatility

Thursday's trading range was $1.31 (2.44%), that's below last trading month's daily average range of $1.79. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Conclusion

While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being neutral.

Market Conditions for EQT Corporation
ConditionForecastDirectionWinAvgWorstBestEvents
Bullish Break through SMA 20 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 200 TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Outside Bar TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

EQT finds buyers at key support level

Jul 13, 2018
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